Where Is The Bottom? - NVAX Stock Price Prediction | NVAX Stock Analysis | Novavax Stock

hello everyone today is August 8th 2024 it's Thursday and welcome to my channel novavax reported second quarter Revenue Thursday that fell short of analysts expectations due to lower than expected sales of its covid-19 vaccine including the company's fall update vaccine for the jn1 variant Novac shares fell 15% in premarket trading Thursday the company's total revenue for the second quarter was 4 $15.5 million below the average analyst estimate of $48.6 million the company's profit of 99 per share also fell short of analysts expectations of $164 the company now expects product sales of $275 million to $375 million this year compared with a previous forecast of $400 million to $600 million which also includes royalties and other Revenue among them the company has recorded $100 million in Revenue in the first half of the year novavax has sought authorization for its fall new Crown vaccine from us and European Regulators analysts at JP Morgan previously warned that nx's stock price has exceeded the actual value that its covid-19 vaccine can bring the analyst not only lowered its Target price but also downgraded the stock rating from neutral to to underweight this is equivalent to a sell rating the analyst explained given the cash forecast of $6 per share at the end of 2025 but there are few foreseeable proprietary channels for value added we will restore the underweight rating on nvax shares and determine the Target price of $8 on December 25th let's take a look at the daily chart of the stock on July 30th the stock price fell 25% marking the official end of the stocks upward Trend in July but the stock price continued to struggle on Monday the stock price fell again by 3.4% although the stock price rebounded at $10.5 the trading volume on that day was not large indicating that no big Capital has entered the market yet however we saw that the Stock's trading volume on Wednesday was significantly enlarged and the stock price fell 7.1% indicating that a large amount of capital has exited the market the stock has fallen 15% in pre-market trading on Thursday and the stock price has reached $96 which I marked with the blue line This price is already a recent low but it is not lower than the lowest price in May this year so will the stock price rebound from this position my view is that the stock price may fall below this position although JP Morgan analysts have a Target price of $8 for the stock technically I see that the Target price may be lower the stock left a huge gap when it soared in May this year now the stock price is facing a big drop and is likely to fill this Gap so I set the Target price in the $7 area okay guys this is my price prediction for novavax shares thank you for watching if you like my analysis please click the subscription button and give a thumbs up I will bring you more latest price predictions for hot stocks later see you in the next video